EC approves Olympic-Pantheon plan, demands return of state aid

European Commission gave its approval to the Greek government plan to privatize and restart Olympic Airlines as Pantheon Airways next year (ATWOnline, Sept. 17), but it also demanded that Olympic return €850 million ($1.2 billion) in state aid. EC VP-Transport Antonio Tajani called the funding "incompatible with European legislation." The privatization plan could face opposition from the carrier's labor unions, which have threatened to fight it.